SONAVOX(SH:688533)2021-10-28 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥314,579,103.66, a decrease of 1.03% compared to the same period last year[5]. - The net profit attributable to shareholders was ¥13,661,272.13, down 55.93% year-on-year, while the net profit excluding non-recurring gains and losses decreased by 49.49% to ¥13,234,032.12[5][12]. - Total operating revenue for the first three quarters of 2021 reached ¥917,138,159.67, an increase of 22.9% compared to ¥746,284,040.90 in the same period of 2020[22]. - Net profit for the first three quarters of 2021 was ¥44,197,787.04, representing a 9.2% increase from ¥40,502,842.87 in the same period of 2020[23]. - Total operating costs for the first three quarters of 2021 were ¥871,461,391.14, up 25.0% from ¥697,058,575.72 in the previous year[22]. - Total comprehensive income for the third quarter of 2021 reached CNY 42,663,808.33, compared to CNY 30,523,281.70 in the same period of 2020, representing an increase of approximately 39.5%[24]. - Basic and diluted earnings per share for the third quarter of 2021 were both CNY 0.31, a decrease from CNY 0.34 in the third quarter of 2020, reflecting a decline of about 8.8%[24]. Cash Flow and Liquidity - The cash flow from operating activities showed a significant decline of 91.87%, amounting to ¥6,493,928.02[6][12]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 6,493,928.02, a significant decrease of approximately 91.9% compared to CNY 79,851,918.56 in the same period of 2020[27]. - Cash inflow from operating activities totaled CNY 974,054,963.21 for the third quarter of 2021, up from CNY 871,703,995.84 in the third quarter of 2020, indicating an increase of about 11.7%[27]. - Cash outflow from operating activities was CNY 967,561,035.19 in the third quarter of 2021, compared to CNY 791,852,077.28 in the same period of 2020, marking an increase of approximately 22.1%[27]. - The company's cash and cash equivalents stood at approximately 411.64 million RMB as of September 30, 2021, showing a slight increase from approximately 405.45 million RMB at the end of 2020[17]. - The cash and cash equivalents at the end of the third quarter of 2021 were CNY 411,223,045.44, an increase from CNY 389,362,563.27 at the end of the previous quarter[28]. - The company reported a total cash inflow from financing activities of CNY 479,443,564.76 in the third quarter of 2021, compared to CNY 234,891,962.16 in the same period of 2020, reflecting an increase of approximately 104.4%[28]. Assets and Liabilities - Total assets increased by 16.85% to ¥1,584,658,375.08 compared to the end of the previous year[6]. - The company's total assets increased to ¥1,584,658,375.08, compared to ¥1,356,099,577.40 at the end of the previous year, reflecting a growth of 16.8%[19]. - Total liabilities decreased to ¥568,381,181.83 from ¥641,462,476.62, a reduction of 11.4%[19]. - The company's total liabilities amounted to $641,462,476.62, a decrease of $9,568,755.71 compared to the previous period[32]. - The current liabilities totaled $639,561,058.21, showing a slight decrease from $642,254,674.65[32]. Shareholder Equity - The equity attributable to shareholders rose by 42.31% to ¥1,015,038,170.01[6]. - The equity attributable to shareholders of the listed company increased by 301.76 million RMB, a growth rate of 42.31%, mainly due to the successful fundraising of 308.80 million RMB from the company's listing on the Shanghai Stock Exchange's Sci-Tech Innovation Board in April 2021[13]. - Shareholders' equity reached $714,637,100.78, with total equity attributable to the parent company at $713,274,374.52[32]. Research and Development - Research and development expenses totaled ¥20,198,863.83, an increase of 26.19% year-on-year, representing 6.42% of operating revenue, up 1.39 percentage points[6][12]. - Research and development (R&D) expenses increased by 37.23% year-on-year in the first three quarters of 2021, driven by an expanded R&D team and higher costs associated with automotive audio and amplifier development projects[13]. - Research and development expenses for the first three quarters of 2021 amounted to ¥55,793,705.73, an increase of 37.2% compared to ¥40,658,011.66 in the same period of 2020[22]. - The company is actively expanding its R&D efforts, particularly in automotive audio systems, with projects involving major clients like Huawei and NIO[12]. - The company is actively involved in developing automotive audio systems for various automotive brands, indicating a strategic focus on market expansion in the automotive sector[13]. Operational Challenges - The company faced increased costs due to rising raw material prices and significant management expenses related to team expansion and travel[12]. - The company is experiencing pressure from international shipping costs and port congestion, impacting its export operations[12]. - The company reported a significant increase in management expenses due to team expansion and the absence of social security exemptions that were in place during the previous year[12]. Future Plans - The company plans to continue expanding its sales, R&D, and management teams to support business growth, leading to increased cash payments to employees compared to the previous year[13]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[19].